MARKET CLOSE: NZ shares fall as ECB weighs on market; Meridian, Westpac, Spark drop

Fri, 04 Dec 2015

By Sophie Boot Dec. 4 (BusinessDesk) - Dec. 4 (BusinessDesk) - New Zealand shares fell after the European Central Bank disappointed some investors who were expecting a bigger stimulus package, trimming the lure of stocks offering higher yields. Blue-chip stocks Meridian Energy, Westpac Banking Corporation and Spark New Zealand declined. The S&P/NZX 50 index dropped 30.85 points, or 0.5 percent, to 6094.82, recovering from a week-low during intraday trading. Within the index, 32 stocks fell, 12 rose and six were unchanged. Turnover was $14...

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